Friday, February 12, 2010

Postal Service to cost taxpayers $7.8 billion in 2011

Declining mail volumes have contributed to net losses for the agency every year since 2007. The Postal Service expects that trend to continue through 2011, when losses will total $7.8 billion.

The fiscal 2011 budget, which acknowledges the Postal Service's financial concerns, commits the Obama administration to working with the agency, its employee unions, Congress and other stakeholders to keep mail operations viable. Discussions already are under way on several issues, said Gerald McKiernan, a USPS spokesman.